Are ASICs really worth the investment?

[Oakey22]

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

[bathrobehero]

Only if you get them very early.

Just look at the difficulty chart of Dash: https://bitinfocharts.com/comparison/dash-difficulty.html

People only just receiving their ASICs likely won't get ROI.

[Tomynho]

horrible, too many ppl in mining, diffs go up like there is no tomorrow.

[0xcosmos]

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

depends on lot of factors
get the lastest model quick and at given price from supplier
will be very profitable
but then difficulty, electricity, stock issues, overpriced third party suppliers
many factors come in
do research & if its profitable for ya
go for it

[xxcsu]

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

[NoxX]

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

ASICs also have resale value, but unlike GPUs timing matters a lot more.

Best case scenario: You buy a newly released ASIC straight from the manufacturer in China without insane markup from a reseller, mine a few months and resell it on eBay.

Worst case scenario: You buy an outdated ASIC from a reseller at 200+% markup. You mine longer than it's profitable and can't sell it afterwards because no one wants it anymore.

Of course, everyone wants to get the best case, so it is notoriously hard to get ASICs from the manufacturers right when they are released. Unless you have connections to China, or buy in large quantities, it might be impossible...

[Miner4ever]

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

Asic also can mine lots of coins and algos.
For example baikal asic miner who can mine x11, x13, x15, quark, qubit algos.
And there is lots of coins on some asic algos, like scrypt, sh256 etc
But if you are new in mining world and need first to learn what is what then
better to go on one gpu mining rig for educational purposes.

[Flep182]

Keep thinking of buying ASICS but my worry is that they are a one trick pony compared to say a GPU that I can mine multiple coins and has resale value.

Are they profitable with average electricity costs?

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ?"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners

I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right?

[TheQuin]

I'm going to save this quote, as it's a good answer to a lot of recurring questions. Probably you've also got it in a textfile lurking around, right?

Yes, there isn't much more to add to that.
So I'll just say that my personal experience of mining back when ASICS first came out was that I did actually turn a profit. That was based on getting the equipment cheap through group buys on this forum and also then getting a bit lucky. After mining for a while and gradually getting less BTC as the difficulty shot up, then the BTC price rocketed as well. I realised I would get far more selling them on Ebay than I ever could continuing to mine.
But even getting lucky with the timing like that I would have actually made a bigger profit if I had just bought BTC rather than buying the ASICS.

[Flep182]

But even getting lucky with the timing like that I would have actually made a bigger profit if I had just bought BTC rather than buying the ASICS.

I've made a loss on the miners I bought, unless I correct for raising BTC rates. Which I shouldn't factor in, as buy and hold back them would've made me a LOT more by now

[TheQuin]

I've made a loss on the miners I bought, unless I correct for raising BTC rates. Which I shouldn't factor in, as buy and hold back them would've made me a LOT more by now

It's funny looking back on it now. I was checking back through my wallet history recently to see I once bought 4 BTC probably for less than $400 total so I could get some 330MH/s Block Erupters. I think I doubled my fiat at the time and was very happy.... but oh to have kept the BTC.

[Flep182]

I've made a loss on the miners I bought, unless I correct for raising BTC rates. Which I shouldn't factor in, as buy and hold back them would've made me a LOT more by now

It's funny to looking back on it now. I was checking back through my wallet history recently to see I once bought 4 BTC probably for less than $400 total so I could get some 330MH/s Block Erupters. I think I doubled my fiat at the time and was very happy.... but oh to have kept the BTC.

I spent 8 BTC on Gridseeds (the 3 chip miners), gotten about 3 btc back. I could've gotten close to buying a share in the company making them by now with that amount of bitcoin

[cuteman]

Only if you get them very early.

Just look at the difficulty chart of Dash: https://bitinfocharts.com/comparison/dash-difficulty.html

People only just receiving their ASICs likely won't get ROI.

this is a terrible picture. I will have my D3 end of October.   

[cuteman]

Asic also can mine lots of coins and algos.

not all ASICs can do this - for example D3 is tuned for only mining Dash. 

[Miracle_Man]

I would not buy ASICs now. Maybe when a new model leaves and if I can get it quickly. I do not think that the profit of ASIC market will be the same as before

[petaelite]

What is best asic miner for x11 algo now able to buy?

[shibob]

I think it's only worth for very first batch.

[crairezx20]

Well for me base in what i notice if you late in buying asic the price was honestly increase its value in the future.. look at the  L3+ before its cheap but right now the price is really increased a lot. it is hard to buy this asic hardware to mine altcoin..
So like the other said buy new releases hardware because its really profitable .. and you can even increase its value in the future to sell in the marketplace..
Gpu mining are also worth it since you can mine multiple coins it will depend if what altcoin would be profitable..

[leowonderful]

I’ve honestly made more just putting my money into BTC and Altcoins and just holding them. Mining can be lucrative if you have low electrical costs but most of the time, investing is more effective if you do it right.

[Steven3iii]

What is best asic miner for x11 algo now able to buy?

X11 mining is getting very crowded out... you have to be clever and flexible to make any money.